Is the Turner Sale a Bet Against the Art Market?

Scott Reyburn previews the J.M.W. Turner sale that will feature prominently in Sotheby’s July sale. The £18m estimate reflects the fact that the work has not been on the market for a century. But the timing of the sale, Sotheby’s admits, may come as much from a fear that strong prices for great works might not last:

“The family thought it was a good moment to sell,” Sotheby’s U.K. Deputy Chairman David Moore-Gwyn said in an interview. “Recently there has been a series of strong prices for magnificent works that are fresh to the market, and we don’t know what’s going to happen in a year’s time.”